Noon Sugar Mills : Transmission of Quarterly Report for the Period Ended 31-03- 2022

CONTENTS

Corporate Information

Directors' Review

Auditor's Report

Condensed Interim Statement of Financial Position

Condensed Interim Statement of Profit or Loss and Other Comprehensive Income

Condensed Interim Statement of Cash Flows

Condensed Interim Statement of Changes in Equity

Notes to the Condensed Interim Financial Statements

Directors' Review (Urdu)

2-3

4-6

7

8-9

10

11

12

13-20

21-24

CORPORATE INFORMATION

BOARD OF DIRECTORS	Mr. K. Iqbal Talib	Chairman
	Lt Col Abdul Khaliq Khan (Retd)	Chief Executive / Director
	Mr. Salman Hayat Noon	(Non- Executive Director)
	Mr. Saif Ullah Khan Noon	(Non- Executive Director)
	Mr. Irfan Ahmed	(Non- Executive Director)
	Syed Ali Raza - Resigned on 24th May 20222	(Non- Executive / Independent Director)
	Ms. Maryam Mamdot	(Non- Executive / Independent Director)
AUDIT COMMITTEE	Syed Ali Raza	Chairman
	Mr. Salman Hayat Noon	Member
	Mr. Saif Ullah Khan Noon	Member
	Ms. Maryam Mamdot	Member
HR & R COMMITTEE	Syed Ali Raza	Chairman
	Mr. Salman Hayat Noon	Member
	Mr. Saif Ullah Khan Noon	Member
	Lt Col Abdul Khaliq Khan (Retd)	Member
TECHNICAL COMMITTEE	Mr. Irfan Ahmed	Chairman
	Mr. Salman Hayat Noon	Member
	Mr. Saif Ullah Khan Noon	Member
	Lt Col Abdul Khaliq Khan (Retd)	Member
MANAGEMENT	Lt Col Abdul Khaliq Khan (Retd)	Chief Executive
	Mr. Rizwan Sohail (FCA)	Chief Financial Officer
COMPANY SECRETARY	Mr. Nasir Iqbal Ansari
HEAD INTERNAL AUDIT	Muhammad Ashfaq (FCMA)
AUDITORS	Shinewing Hameed Chaudhri & Co.,
	Chartered Accountants
LEGAL ADVISERS	Hassan & Hassan (Advocates)
BANKERS

Al Baraka Bank (Pakistan) Limited

Askari Bank Limited

Bank Alfalah Limited - Islamic Banking

Bank Islami Pakistan Limited

Dubai Islamic Bank Pakistan Limited

JS Bank Limited

MCB Bank Limited

Meezan Bank Limited

Standard Chartered Bank (Pakistan) Limited

United Bank Limited

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REGISTERED OFFICE	66-Garden Block,
	New Garden Town,
	Lahore.
	Tel. [phone],
	E-mail: [e-mail]
	[e-mail]
SHARES REGISTRAR	Corplink (Pvt.) Limited
	Wings Arcade, 1-K Commercial,
	Model Town, Lahore.
	Tel. # [phone]
	Fax # [phone], E-mail: [e-mail]
	Website: www.corplink.com.pk
MILLS	Bhalwal, District Sargodha.
WEBSITE	www.noonsugar.com

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DIRECTORS' REVIEW

DEAR MEMBERS

The Directors of Noon Sugar Mills Limited are pleased to present the condensed interim financial statements of the Company for the half year ended on March 31st, 2022.

FINANCIAL RESULTS

A comparison of the financial results for the half year ended March 31st, 2022, as against March 31st, 2021, is as follows:

	Half Year Ended March 31st
	2022	2021
	---Rupees in million---
Net Sales	5,079	4,236
Gross profit	569	453
Earnings before tax	243	159
Taxation	(57)	(57)
Earnings after tax	187	102
	- - - Rupees - - -
Basic earnings per share	11.31	6.20

During the reporting period, the sales revenue of the Company was Rs.5,079 million as compared to Rs. 4,236 million for the corresponding period of the last year. Gross profit was Rs.569 million as compared to Rs.453 million in the corresponding period. Profit after taxation, for the period is Rs.187 million against Rs. 102 million of the same period of last year and earnings per share is Rs.11.31, as compared to the earnings of Rs.6.20 per share in the corresponding period of the last year.

OPERATIONAL RESULTS

Sugar Division

The operational performance of the Sugar segment for the period under review, with comparative statistics of the corresponding period are tabulated below:

		Half Year Ended March 31st
		2022	2021
Operating Period	Days	134	121
Cane Crushed	M. Tons	1,073,285	863,552
Sugar Produced	M. Tons	99,395	82,710
Average Sucrose Recovery	%age	9.32	9.60
Molasses Recovery	%age	4.51	4.30
Molasses Produced	M. Tons	47,404	37,033

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